Quantamental Technologies LLC acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,103 shares of the bank’s stock, valued at approximately $185,000.
A number of other hedge funds have also recently modified their holdings of CFR. Vanguard Group Inc. increased its position in Cullen/Frost Bankers by 3.0% during the third quarter. Vanguard Group Inc. now owns 5,964,830 shares of the bank’s stock worth $622,968,000 after buying an additional 171,180 shares in the last quarter. Vanguard Group Inc increased its position in Cullen/Frost Bankers by 3.0% during the third quarter. Vanguard Group Inc now owns 5,964,830 shares of the bank’s stock worth $622,968,000 after buying an additional 171,180 shares in the last quarter. BlackRock Inc. increased its position in Cullen/Frost Bankers by 6.4% during the third quarter. BlackRock Inc. now owns 5,546,455 shares of the bank’s stock worth $579,270,000 after buying an additional 334,343 shares in the last quarter. JPMorgan Chase & Co. increased its position in Cullen/Frost Bankers by 3.6% during the third quarter. JPMorgan Chase & Co. now owns 1,846,928 shares of the bank’s stock worth $192,894,000 after buying an additional 64,878 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Cullen/Frost Bankers by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 922,810 shares of the bank’s stock worth $96,378,000 after buying an additional 70,984 shares in the last quarter. 78.35% of the stock is owned by hedge funds and other institutional investors.
In other Cullen/Frost Bankers news, insider Bobby Berman sold 1,391 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $101.12, for a total transaction of $140,657.92. Following the completion of the sale, the insider now owns 28,112 shares of the company’s stock, valued at $2,842,685.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cynthia Jane Comparin purchased 1,000 shares of the stock in a transaction on Friday, December 14th. The shares were purchased at an average cost of $93.38 per share, with a total value of $93,380.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $93,380. The disclosure for this purchase can be found here. 4.64% of the stock is owned by insiders.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 31st. The bank reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.07. The business had revenue of $360.93 million during the quarter, compared to the consensus estimate of $344.18 million. Cullen/Frost Bankers had a return on equity of 14.48% and a net margin of 32.11%. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 7.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, February 27th. Cullen/Frost Bankers’s dividend payout ratio is currently 38.84%.
Several equities analysts have weighed in on CFR shares. SunTrust Banks dropped their price target on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Barclays reissued a “hold” rating and set a $105.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 11th. Morgan Stanley downgraded Cullen/Frost Bankers from an “equal” rating to a “weight” rating and dropped their price target for the stock from $105.00 to $103.00 in a research report on Monday, November 12th. Stephens set a $101.00 price target on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Monday, October 29th. Finally, Bank of America downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a research report on Thursday, January 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $107.11.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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